Information for the community of West Allis

West Allis Real Estate

Voted as the “Best Place to Raise Your Kids” in the Milwaukee area by Business Week for 2010, West Allis prides itself as a community with “strong principles of family and work.” With a population of 63,000, West Allis ranks as one of the largest cities in Wisconsin. Its convenient location near I-94 provides an easy commute to the downtown area. “Our location lets us have every benefit of a major city, yet we can keep our small town feel,” stated West Allis Mayor, Dan Devine, on the city’s website.

The city has been known for its blue-collar roots, but has recently seen a dramatic increase in home sales to young professionals. The area provides a variety of affordable housing options to interested buyers. Options in the city include single family, two family and condominiums that range from $45,000 to $499,900. The average prices of homes are: single-family – $145,964, two-family – $161,968, condominiums – $198,498. A major condominium project is the 42-unit Six Points East Condominiums. The condo offers underground parking and has first-floor retail space. The fact that West Allis has one of the oldest Building Inspection Departments in Milwaukee County has ensured a large stock of quality housing.

For those ice skating enthusiasts, the Pettit National Ice Center is used as a practice facility to train Olympic athletes. The center is open certain hours during the week for the public to enjoy. The city also holds a Farmer’s Market that accommodates local stores and vendors.

History of West Allis

The city was first settled by Ruben Strong, Ebenezer Cornwall and Pete Marlett from the State of New York. The pioneers found a rustic environment that was wooded and contained fresh water springs that they claimed as paradise. The settlers used the fertile soil and laid out acres to raise produce that was sold in the area. Trails left by the Native Americans were converted into roads for wagons. A brick school was constructed in 1860 where seven students attended. The Garfield Building, which houses the West Allis Historical Society, stands in the very spot of the aforementioned school. In 1853, the Wisconsin State Agricultural Society was formed to organize a State Fair. The Steven’s dairy farm was purchased to hold the fair in 1891. The farm with all of its buildings was burned to the ground, so new buildings had to be constructed to house the fair. Residents of the North Greenfield area voted to manage their village and named it West Allis in 1902.

Market Conditions for West Allis

Median Sale Price

The median sale price for homes in August was $168,000. The median sales price for homes in August rose by $5,000 compared to last month. This represents a 3.06% increase from July. Compared to the same month last year, the median price of homes rose by $15,550 representing a 10.2% year-over-year change.

Homes for Sale

The inventory of homes for sale rose by 4 in August to 139. This represents 2.96% increase from July when 135 homes were on the market. Compared to the same month last year when there were 178 homes for sale, the inventory of homes for sale has fallen by 39 representing a -21.91% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold

The 69 homes sold in August was 24 less than in July. This represents a 25.8% decrease in sales from July. Compared to the same month last year, the number of homes sold increased by 3, a 4.54% year-over-year increase.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Avg Days on Market

The average days on market for a home sold in August (16) decreased by 3 days compared to July. This represents a 15.78% decrease in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold decreased by 7, a -30.43% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

The Sale/List Price Ratio of 99.03% in August fell by 0.78% compared to July and increased 1.38% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes

The number of homes listed in August (97) rose by 19 compared to July, a 24.35% change. Compared to August 2018, the number of new listings decreased by 20, a -17.09% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price

The median list price in August was $152,900. The median list price for homes in August fell by ($7,000) compared to last month. This represents a 4.37% decrease from July. Compared to the same month last year, the median list price of homes decreased ($4,000) representing a -2.54% year-over-year decrease.

Rates and fees are subject to adjustments based on your credit score and the loan-to-value ratio. Rates and fees are also subject to change without notice. Other rates and loan programs are available.
All applications are subject to current underwriting guidelines and credit approval. EHL NMLS#280412

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